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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Domestic Companies Can Opt for 25% Tax Rate Under Section 115BA if Set Up After March 1, 2016</h1> Section 115BA, introduced in the Income-tax Act by Clause 49 of the Finance Bill, 2016, allows certain domestic companies to opt for a 25% tax rate on their total income starting from the assessment year 2017-2018. To qualify, companies must be set up and registered on or after March 1, 2016, and engaged in manufacturing or production. Income must be computed without specific deductions or loss carryforwards, and depreciation must follow prescribed methods. The option to apply this rate must be exercised by the due date for filing the income return for the relevant year.
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